This week in e-commerce news we have big changes related to e-commerce sales tax laws and 25 tips for optimizing your store checkout.
Online shopping has always had one huge benefit over buying from brick and mortar stores — sales tax was not collected. Just because it wasn’t collected doesn’t mean it wasn’t owed. But the fact of the matter is most consumers never reported these sales taxes owed.
With online sales north of $450 billion in 2017, this is a potential loss of tax revenue for states in the billions of dollars.
This all just changed with the recent Supreme Court ruling in favor of South Dakota in South Dakota v. Wayfair Inc. This ruling paves the way for more states to require e-commerce merchants to collect and remit sales tax in the future.
The New York Times summarizes this issue nicely:
Americans have done more and more of their shopping online in recent years, drawn by the promise of low prices, wide selection and buy-from-home convenience. But e-commerce has also had another edge: Many of those sales were, in effect, tax-free.
The Supreme Court on Thursday moved to close that loophole, ruling that internet retailers can be required to collect sales taxes even in states where they have no physical presence.
Shopify also put together a writeup on how this affects Shopify store owners.
Your store checkout is the final stop your customers visit before deciding to complete their purchase. This means it is a make or break situation for your store. This might be the last chance you have to close the sale before the customer decides to leave, perhaps never to be heard from again.
Seven of every ten visitors leave checkout without buying. Optimize your checkout process to turn more visitors into customers.
So what can you do to make the most of this and capture as many sales as possible? The solution is to make sure you have optimized your checkout process as much as possible to give your store the best chance to win the sale.
Checkout these 25 tips for optimizing your checkout — brought to you by thegood.com.